Sunday, May 12, 2013

NZ retailers lose $1b through theft

It has recently been reported that New Zealand retailers are losing close to $1b a year in theft, with many incidents going unreported as businesses either are unaware of the scope of the problem or are not equipped to deal with it.

What many businesses are apparently unaware of, or just don't want to acknowledge, is that staff are responsible for the majority of retail 'shrinkage'.

There's an old rule of thumb called the '10-80-10 rule' in regards to workplace theft.

  • 10% of your employees will never steal of from you. 

  • 10% of your employees are stealing from you and will continue to do so irrespective of what you do.

  • 80% of your employees will steal from you if they don't think of it as theft or they see other employees doing so without any apparent consequences.

It is that 80% that you need to focus on. 

If you have issues with theft in your workplace, or wish to consult on ways on keeping that 80% honest, please contact us. We'll be happy to talk.